The amount of the deal – whose completion is subject to applicable regulatory clearances and other customary closing conditions – was not disclosed.

The investment is intended to help the company continue to diversify into new geographies and product niches.

With dual headquarters in Meerbusch, Germany and Nieuwegein, the Netherlands, Abit provides a comprehensive suite of software solutions for credit and claims management, and risk and impairment, as well as a cloud-based business intelligence and data analytics solution – named Cwize – designed to monitor and optimize debt collection performance across major industry verticals, including financial institutions, debt collection agencies, public sector bodies and utilities.